Many people do not have significant savings that allow them to purchase real estate for permanent residence at their own expense. Therefore, citizens are forced to apply to the bank for a mortgage loan. But often, borrowers have problems repaying such a large loan. Therefore, the question arises whether it is possible to refuse a mortgage. The process depends on whether the required amount was transferred by the bank or not. It is allowed to terminate the loan agreement with the bank ahead of schedule, but the consequences of such a decision are considered not too pleasant for the direct borrowers.
When can I refuse?
Often, at various forums on the Internet, citizens ask: "Have you obtained a mortgage, is it possible to refuse?" This is due to the fact that people face serious financial problems, due to which they can not cope with a serious credit load. Therefore, people want to stop working with the bank.
Can I refuse a mortgage? This is possible in the following situations:
- approval from the bank for the submitted application has not yet been received;
- the application has been approved, but an agreement has not yet been signed with a credit institution;
- the contract was signed, but the funds have not yet been transferred to the seller of real estate;
- An early signed contract is terminated after receiving the money, but there must be good reason for this, confirmed by official documents.
If the money has already been received by the borrower, then the refusal to cooperate is allowed only after declaring yourself bankrupt or early repayment of the existing loan. It is easy to repay a loan ahead of schedule, for which you only need to write a statement that is submitted to the bank. After this, a calculation is made to determine the exact amount that must be paid to repay the loan.
It is difficult to find the necessary funds for the early repayment of the mortgage , since the apartment is pledged by the bank until the contract expires, so you can sell it only in cooperation with the bank.
When is a waiver necessary?
Often people are interested in whether it is possible to refuse a mortgage if certain financial difficulties arise. Therefore, failure is required in the following situations:
- dismissal or reduction at the main place of work;
- pregnancy of the woman, who is the main borrower;
- detection of a complex disease in a citizen that requires a long and expensive treatment;
- assigning a certain disability group to the borrower in connection with the loss of ability to work;
- the appearance of dependents.
All the above facts must be proved by official documents.
Can I refuse a military mortgage?
Such a loan is granted only to military personnel with the participation of the state. It is through budgetary funds that a certain part of the value of the acquired property is compensated. But even under such conditions, the military often has certain financial problems that do not allow him to cope with the existing credit burden on military mortgages. Can I refuse such a loan? Features of this process:
- Credit is granted only to participants of the NIS program, according to which a certain amount of funds is accumulated on the individual account of the military during the service, which is then sent to purchase real estate.
- In fact, only the military, who entered into a contract until 2005, can refuse a mortgage.
- If the military is already included in a special mortgage register, then the refusal to provide housing is unauthorized.
- The military may be removed from the register only after his death, dismissal or disappearance.
- If the service contract was concluded before 2005, then it is allowed to refuse to issue a mortgage loan without negative consequences.
If a military man has the right not to apply for a mortgage, then he needs to draw up a special report, which is submitted to the authorities. This document indicates the need to exclude a soldier from the mortgage registry.
How to refuse military mortgages in a different situation? Since the refusal is not provided for in the program, the only opportunity for a military serviceman is to file a lawsuit with a court demanding that he be removed from the register. Reference should be made to the Constitution, which states that every Russian citizen has the right to freely choose his own home. In judicial practice, there are cases when, with the competent formation of the claim and the selection of the optimal line of conduct at the court, the military was really excluded from the register.
Is it possible to refuse when using mothercapital?
Matkapital is represented by a certain measure of support for families by the state. It is issued at the birth of the second child in the family. About 450 thousand rubles are provided for it. You can use these funds for a limited number of purposes, which include buying a home with a mortgage. But after using the capital, often a question arises among borrowers whether it is possible to refuse a mortgage. The nuances of this situation:
- there are certain problems with the return of the capital and termination of the loan agreement with the bank;
- modern legislation does not provide for the possibility of terminating a loan agreement, therefore it is allowed to liquidate a debt only after it has been repaid by the borrower;
- to terminate cooperation, you can sell a house with the approval of the bank or even draw up an additional contract with the institution, on the basis of which the apartment is sold through an auction conducted by the organization;
- after the sale of real estate, the funds received are sent to repay the loan;
- if any funds remain after this process, then they are transferred to the former borrower;
- in this case, citizens need to return the funds received under the certificate to the Pension Fund;
- To do this, they can use the money received from the bank, but they are usually not enough to return the capital, so they will have to return this amount due to personal savings.
Therefore, before applying for a loan using matkapital, you must be completely confident in your own financial capabilities.
Nuances of a divorce
Many young people immediately after marriage choose to get a mortgage in order to get a new apartment for living together. But marriages are not always strong and reliable, so often after a few years people decide to divorce. In this case, the question arises whether it is possible to refuse a mortgage with a divorce.
Typically, banks are negative about making any adjustments to the loan agreement. Therefore, if a decision is made by the borrowers to terminate the marriage and refuse a mortgage, then they can choose one of several options:
- one of the borrowers waives the right to this property, therefore it is excluded from the contract, and the apartment is reissued for the second borrower, who then continues to repay the mortgage on the same basis, but often the spouse, excluded from the contract, requires half of the amount previously paid from an ex-husband or wife;
- Housing is sold by direct borrowers, a bank or through an auction, and usually for this a client of a banking institution who wants to buy an apartment at the expense of borrowed funds is selected;
- selling the apartment to any buyer who is ready to pay cash for it, which is further used by borrowers to fully repay the loan.
Most often, citizens prefer to use the first option, so the apartment is drawn up by one of the borrowers. A person who has refused real estate loses a part of the object previously registered to him, therefore he will not be able to claim it by any means in the future.
How to refuse a mortgage at Sberbank if the spouses do not want to draw up an object for themselves? In this case, the only solution to the problem is the sale of real estate in any way possible. Money received from this process is used to pay off the mortgage. If after that any amount of funds remains, then it is divided equally between the borrowers.
If you understand how to refuse a mortgage in a divorce, then the former spouses themselves will be able to decide which option to solve the problem is considered most relevant for them.
Is it possible to return previously paid funds?
Often there is a need to terminate a mortgage agreement after a long loan repayment period. Therefore, people have a question whether it is possible to refuse a mortgage and get previously transferred funds. Some of the money can be returned if a decision is made to sell real estate.
After the implementation of the object, the necessary amount of money is initially sent to the bank to repay the loan, for which purpose the employees of the institution recalculate. The remaining money can be used by former borrowers for any purpose.
In most banks, after receiving a statement from the borrower about the refusal to pay a mortgage, interest is suspended. This makes it possible to significantly reduce the amount of debt. Such actions are due to the fact that the sale of an apartment often takes more than six months, while the borrowers simply do not have the opportunity to repay the loan on the same terms.
Failure rules in different situations
The procedure for termination of cooperation depends on at what stage the process of registration of a mortgage loan is carried out:
- The loan was approved, but the funds were not transferred. Can I refuse a mortgage after approval? Since the money has not yet been paid to the seller of real estate, the borrower may refuse the transaction. To do this, you need to quickly write a statement, on the basis of which the cancellation of a previously signed contract takes place. But if you used the services of a real estate agency to search for an apartment, you will have to pay them.
- The contract was signed, as well as money transferred to the seller of the object. Is it possible to refuse an approved mortgage in this case? Under such conditions, there is no possibility of terminating the contract, as the bank simply will not be able to withdraw funds from the seller of real estate. But there is a possibility that the seller of the apartment will agree to return the funds. The process must be completed on the day of the mortgage. In this case, the borrower will still have to pay off the interest calculated by the bank. But many banks refuse such an opportunity.
- The borrower has been repaying the mortgage for some time. Is it possible to refuse a mortgage after approval under such conditions? To do this, it is advisable to engage in the sale of real estate. The procedure is necessarily implemented with the approval and participation of the direct banking institution. The buyer can pay for the apartment with borrowed funds, for which a mortgage agreement is reissued for him, and can also pay his own cash for the property.
Often, citizens simply prefer not to transfer funds under the contract, hoping in this way to stop cooperation. In this case, there are many negative consequences for direct borrowers. The bank accrues additional interest and penalties. After several months, they file a petition with the court. Based on a court decision, the apartment is confiscated and transferred to the bank, which sells it at auction, and the money received is sent to pay off the debt. At the same time, credit history spoils for citizens, and they lose the right to independently regulate the process of selling an object, in order to ultimately receive some of its value.
Is it possible to cancel a loan in court?
Is it possible to refuse a mortgage of Metallinvestbank or another credit institution when filing a lawsuit? Such cases are considered in court quite often. This is due to the fact that many borrowers simply when financial problems cease to transfer funds for a mortgage. Banks are forced to apply to the court for the forced collection of funds.
The court satisfies the plaintiff’s requirements under such conditions, therefore, borrowers are deprived of mortgage property that becomes the property of the bank. The institution sells apartments through auctions. The funds received are sent to repay the loan, but if there is free money left after that, then they are paid to the borrowers.
Additionally, the borrower himself may appeal to the court if the bank refuses to restructure the mortgage. In this case, it is important to provide the court with evidence of the deterioration of the financial situation of the citizen, as well as confirmation that the borrower tried to solve the problem in a pre-trial manner, therefore, he applied to the bank for restructuring. Under such conditions, the court does not cancel the mortgage, but may force the banking institution to make concessions.
Can I refuse mortgage insurance?
The provision of mortgage loans is considered a risky process for any bank, since there is always the possibility that the collateral will be lost for various reasons or the borrower will die or lose his ability to work. Therefore, banks insist on obtaining at least two insurance policies:
- insurance of acquired property;
- life and health of the main borrower.
The purchase of insurance for an apartment is mandatory on the basis of legal requirements. Can I refuse mortgage insurance? If this insurance policy is not renewed annually, this may become the basis for the bank to apply to the court for early termination of the mortgage agreement. In this case, the borrower will have to repay the debt, and bailiffs will act on it in different ways. Therefore, apartment insurance is mandatory for every borrower.
Life insurance should be carried out only with the consent of the client. Banks cannot insist on such a policy. But at the same time, they often simply refuse to provide borrowed funds if the potential borrower does not want to pay for such insurance. Often, even in the loan agreement itself, there is a condition that if the borrower for various reasons does not take out life insurance, this leads to an increase in the interest rate on the mortgage. Therefore, citizens are forced to annually buy such a policy before the end of the loan term.
With mortgage insurance, is it possible to refuse to buy a borrower's life protection policy? The procedure can be completed, but this usually increases the interest rate on the loan.
If the mortgage is repaid ahead of schedule, you can return part of the amount transferred for the insurance policy. To do this, you need to contact the insurance company where he was bought. The following documentation is handed over to the employees of the institution:
- copy of the passport of the insured person;
- an application for the return of a certain amount of funds transferred for an insurance policy;
- bank statement confirming the end of cooperation in connection with early repayment of a mortgage;
- copy of the direct loan agreement.
Based on these documents, a recalculation is carried out, so the applicant receives a portion of the amount previously paid for the insurance policy. Insurance companies do not have the right to refuse to return this money.
If a citizen is faced with a refusal, then he can write a complaint to the company. If there is no response to this application within two months, a lawsuit is filed with the court.
Conclusion
Refusal from a mortgage is possible before the direct transfer of money under a loan agreement. It is allowed to terminate the agreement ahead of schedule, but for this the borrower will have to lose the purchased property or repay the loan due to personal savings.
In addition, you can refuse insurance if this possibility is provided for by the provisions of the loan agreement.